Splunk Inc (SPLK) Receives Consensus Rating of “Buy” from Brokerages

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Splunk Inc (NASDAQ:SPLK) has earned an average recommendation of “Buy” from the forty-one research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, thirty-three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $110.63.

A number of analysts recently weighed in on the company. Piper Jaffray Companies restated a “buy” rating and issued a $105.00 target price on shares of Splunk in a research report on Tuesday, February 27th. Jefferies Financial Group restated a “buy” rating and issued a $111.00 target price on shares of Splunk in a research report on Friday, March 2nd. Maxim Group boosted their target price on Splunk to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. FIG Partners restated an “overweight” rating and issued a $127.00 target price on shares of Splunk in a research report on Friday, May 25th. Finally, Stephens reiterated a “buy” rating and issued a $115.00 price objective on shares of Splunk in a research report on Friday, March 2nd.

NASDAQ:SPLK traded up $0.24 during mid-day trading on Tuesday, reaching $101.48. The stock had a trading volume of 1,368,587 shares, compared to its average volume of 1,889,948. The company has a market capitalization of $15.26 billion, a price-to-earnings ratio of -77.46 and a beta of 1.83. Splunk has a one year low of $55.92 and a one year high of $121.64.

Splunk (NASDAQ:SPLK) last released its earnings results on Thursday, May 24th. The software company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $311.60 million during the quarter, compared to the consensus estimate of $297.58 million. Splunk had a negative return on equity of 29.90% and a negative net margin of 20.72%. Splunk’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. research analysts anticipate that Splunk will post -1.27 EPS for the current fiscal year.

In related news, CFO David F. Conte sold 20,199 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $97.88, for a total value of $1,977,078.12. Following the sale, the chief financial officer now directly owns 168,243 shares of the company’s stock, valued at $16,467,624.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Graham Smith sold 4,000 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $121.01, for a total value of $484,040.00. Following the completion of the sale, the director now directly owns 53,226 shares in the company, valued at $6,440,878.26. The disclosure for this sale can be found here. Insiders have sold 164,059 shares of company stock worth $17,513,570 over the last three months. Insiders own 0.36% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Splunk by 3.4% in the first quarter. BlackRock Inc. now owns 7,776,103 shares of the software company’s stock worth $765,092,000 after purchasing an additional 258,661 shares during the period. Clearbridge Investments LLC grew its stake in Splunk by 6.0% in the fourth quarter. Clearbridge Investments LLC now owns 4,638,701 shares of the software company’s stock worth $384,270,000 after purchasing an additional 263,130 shares during the period. Federated Investors Inc. PA grew its stake in Splunk by 5.2% in the first quarter. Federated Investors Inc. PA now owns 2,005,140 shares of the software company’s stock worth $197,286,000 after purchasing an additional 99,354 shares during the period. Champlain Investment Partners LLC grew its stake in Splunk by 1.0% in the fourth quarter. Champlain Investment Partners LLC now owns 1,564,140 shares of the software company’s stock worth $129,573,000 after purchasing an additional 15,000 shares during the period. Finally, Two Sigma Advisers LP grew its stake in Splunk by 93.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,454,773 shares of the software company’s stock worth $120,513,000 after purchasing an additional 703,500 shares during the period. 92.97% of the stock is currently owned by institutional investors.

Splunk Company Profile

Splunk Inc provides software solutions that enable organizations to gain real-time operational intelligence in the United States and internationally. Its products enable users to collect, index, search, explore, monitor, correlate, and analyze data regardless of format or source. The company offers Splunk Enterprise, a machine data platform with collection, indexing, search, reporting, analysis, alerting, monitoring, and data management capabilities; and Splunk Cloud.

Analyst Recommendations for Splunk (NASDAQ:SPLK)

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